If you are currently going through a divorce, you will need to figure out what to do with the property you own together. The property can be anything from a house or car to furnishings and other belongings in your home. This can be one of the more difficult parts of a divorce, so it is best to start early and get legal assistance. Here are some tips for dividing your property.
Go Through Your Property
If you decide to try and divide the property yourselves without legal help, you need to start by making a list of all your property, then setting a value. It helps to work on this with your spouse if you are still on speaking terms. If not, try the best you can to do this on your own. List all of your property, including bank accounts and retirement accounts, cars, land, homes, furniture, jewelry, appliances, and everything else you own. Instead of detailing every single item, put things into categories. For example, "kitchen appliances" instead of "toaster" and "microwave." Try to come up with the value the best you can. Remember this is the resale value, not what it would sell for new. For antiques and jewelry, you might want to get an appraiser.
Consider Who The Logical Owner Should Be
Now that you know what property you have, you can begin dividing it. A good way to start is by thinking of who the logical owner of each item should be. For example, if you will have custody of the kids, it makes sense that you would get the van, while your spouse would get the sports car. If your spouse did all the cooking, perhaps they would get all kitchen appliances and cookware. Go down the list thinking of which one of you should get more use out of each item. You will inevitably come across property both of you want or need, so leave that for later.
Handle Disagreements Carefully
With property that you and your spouse both want, you will need to get a little more creative when deciding who should get it. There may be things you just can't agree on. If the property doesn't have significant sentimental or financial value, why not try flipping a coin? It may seem a silly way to come up with a resolution, but sometimes it's the only way. If you are still disagreeing, it might be better to sell the property and split the profits between the two of you, that way neither of you has those items.
Get A Lawyer
When dividing your property becomes a constant struggle, it is time to get a lawyer. Each of you should have your own divorce lawyer that can help you come up with a suitable agreement. When you finalize the property documents, a judge needs to approve it. It is very helpful to get assistance from a legal professional for this part of your divorce.
For more tips and information, contact a divorce attorney like Robert G. Moore Attorney at Law.
Share14 May 2015
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